by Lance Turner
Posted 8/14/2013 03:25 pm
Updated 7 months ago
Dillard's Inc. of Little Rock on Wednesday reported second-quarter net income of $36.5 million, up about 18 percent from $31.0 million in the same quarter last year.
The department store chain said earnings per share was 79 cents, up from 63 cents in the same quarter last year. Total revenue was $1.52 billion, down from about $1.53 billion last year.
In all, Dillard's beat earnings per share estimates by about 5 cents but missed on revenue predictions of $1.54 billion.
"Following a strong start to the year, we made further progress in the second quarter," William Dillard II, the company's CEO, said in a news release. "Positive comparable store sales and gross margin expansion combined with continued expense control enabled us to report another quarter of year over year improvement at Dillard's."
The company said same-store sales rose 1 percent in the second quarter.
Second-quarter net revenue was $1.480 billion, down from $1.488 billion in the same quarter last year. Those figures include revenue from Dillard's construction business, CDI Contractors LLC.
Total merchandise sales, which exclude CDI, reached $1.459 billion, up from $1.456 billion in the same period last year.
The company cited strong sales trends in ladies' accessories and lingerie, followed by juniors' and children's apparel. Sales were weakest in Dillard's home and furniture category, followed by ladies' apparel.
Sales trends were strongest in the company's central region, followed by its western and eastern regions.
During the quarter, Dillard's closed its store in Randolph Mall Asheboro, N.C., where it had been one of four mall anchors since 2002.